Newbie from Northern NJ BRRRR

[Carmelo Lopez]

Hello,

My wife and I are looking to purchase our first home. Were loolong to purchase a multifamily home in Hudson County, Harrison NJ to be exact, using an FHA 203k loan. BRRRR is what we have in mind to eventually do.

We've considered a few options:

*Purchase a pre-forclosure/short sale & renovate 

*Convert a single family into a multifamily 

*Buy a piece of property and construct a new multifamily 

Whichever path we choose to go, we would like get insight/feedback/advice from BP member's who have  traveled down this road. 

Thank you in advance for your input!